CMA presents proposed amendments to Apartment Ownership Act

Wednesday, 22 December 2021 00:00 - - {{hitsCtrl.values.hits}}

CMA Chairman Sarana Karunarathna presenting amendments to the Act to Minister of Justice Ali Sabry and Co-chairs of the legal panel. CMA General Manager Dr. Indunil Liyanage, DGM Regulatory Nalin Gankanda and Legal Consultant Tissa Perera are also present

Condominium Management Authority (CMA) Chairman Sarana Karunaratne, Attorney-at-Law presented its proposed amendments to the apartment ownership Act No.10 and 11 of 1973 to Minister of Justice Ali Sabry recently.

CMA General Manager Dr. Indunil Liyanage, Deputy General Manager Regulatory Nalin Gankanda and Legal Consultant Tissa Perera and Co-Chairs and the committee members of the eminent legal panel appointed by the Minister of Justice to carry out necessary amendments to the apartment ownership Act also participated at this occasion.

Sabry appointed an eminent legal panel to amend the apartment ownership Act of No.10 and 11 of 1973 to meet today’s demands of the developers and parcel owners in the country. The committee forwarded those timely amendments to the condominium Act to CMA for its observations and suggestions. Thorough study was conducted by the senior management of CMA on those proposals and recently forwarded its suggestions and observations to the Minister of Justice and the eminent legal panel appointed by the Minster.

The Condominium Management Authority (CMA) was established under the Act of Parliament No.39 of 2003 to regulate and monitor Government and private sector condominiums in the country. Since 2003 CMA established 1,126 management corporations to monitor and regulate individual condominiums in the country which amounts to approximately 38,573 apartment units.

The CMA consists of various divisions to support this endeavour namely, engineering, customer care, certificate issuance, administration and human resources, legal, finance, information technology and internal audit. Condominium Management Authority is a self-funded (profitable) institute functioning under the State Ministry of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness.

According to the act, CMA will play a significant role in the development of Port City. A plan has been developed by CMA for the Port City development activities under ‘one stop shop’ concept introduced by UDA to expedite the approval process within a short period of time to meet foreign and local investor demands.

CMA provided its assistance to the Sri Lanka Tourist Board to draft their regulations for ‘service apartment’ concept in the country.